What Is the Primary Drawback with Respect to the Use

question 78

Multiple Choice

What is the primary drawback with respect to the use of sampling?

• A)Individuals may fail to obtain a true understanding of the question they are examining.
• B)The time spent in planning and selecting the sample may exceed the time savings from examining only a subset of the items.
• C)The conclusion reached by examining a sample of items may differ from the conclusion that would be reached if the entire population were examined.
• D)Sampling cannot be used to examine account balances that are material to the financial statements.

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Definitions:

Significant Difference

A statistical assessment that shows that the observed results in a study were unlikely to have occurred by chance.

Standard Error

The standard deviation of the sampling distribution of a statistic, typically used to measure the accuracy of sample mean estimates.

Population Standard Deviation

A statistic that measures the dispersion or spread of a set of data points in a population.

Sample Size

The number of observations or data points collected in a statistical study.